Mondrian is a value manager. Our investment approach overweights those markets that are primed to generate a high real return in an investor’s base currency and hence outperform. To this end, Mondrian takes a forward-looking real income approach, investing in bond markets that offer high income in inflation and risk adjusted terms. This is done by measuring each market’s Prospective Real Yield (PRY) which incorporates Mondrian’s own inflation forecasts and its assessment of each market’s fundamental risks along with a consideration of its currency valuation. Mondrian has consistently applied this same disciplined, value-oriented process across all its fixed income products since 1990. It has produced strong long-term results.
Why Mondrian for Fixed Income?
* 2023 PRI Assessment Scores: Policy, Governance & Strategy: 4 Stars; Direct-Listed equity-Active fundamental: 5 Stars; Direct-Fixed income–SSA: 5 Stars; Direct-Fixed income–Corporate: 5 Stars; Confidence Building Measures: 4 Stars. Please refer to www.unpri.org for the PRI assessment methodology. Mondrian’s full Assessment Report and Transparency Report may be requested via the PRI Data Portal. PRI = Principles for Responsible Investments.
Mondrian’s Fixed Income and Currency Team is stable and experienced, with sovereign and credit capabilities. Our fixed income strategies are determined by the Fixed Income Investment Committee, which consists of the entire team and is chaired by David Wakefield, CIO, Global Fixed Income and Currency. The committee meets regularly and the team all sit together and are in constant communication. Strategy is developed collectively through the disciplined implementation of our process, via our team approach.